Nasdaq Tumbles Over 400 Points; Netflix Posts Upbeat Earnings

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 400 points on Monday.

Following the market opening Monday, the Dow traded down 1.72% to 38,467.82 while the NASDAQ fell 2.52% to 15,875.36. The S&P 500 also fell, dropping, 1.95% to 5,179.64.

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Leading and Lagging Sectors

Materials shares fell by just 0.5% on Monday.

In trading on Monday, consumer discretionary shares tumbled by 3%.

Top Headline

Netflix Inc. NFLX reported stronger-than-expected first-quarter financial results after the closing bell on Thursday.

The company said it expects second-quarter revenue of $11.04 billion and earnings per share of $6.61.

Equities Trading UP

Upexi, Inc. UPXI shares shot up 560% to $15.32 after the company announced a private placement with approximately $100 million in gross proceeds.
Shares of SHF Holdings, Inc. SHFSgot a boost, surging 93% to $4.12 after gaining 18% on Thursday. SHF Holdings announced a strategic partnership with FundCanna to expand access to capital for cannabis operators.
Dogwood Therapeutics, Inc. DWTX shares were also up, gaining 62% to $6.91.

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Equities Trading DOWN

Thunder Power Holdings, Inc. AIEV shares dropped 60% to $0.0541 after the company received delisting notice from the Nasdaq.
Shares of Lixiang Education Holding Co., Ltd. LXEH were down 51% to $3.32.
American Rebel Holdings, Inc. AREB was down, falling 49% to $2.6201.

Commodities

In commodity news, oil traded down 2.9% to $62.78 while gold traded up 3.3% at $3,437.20.

Silver traded up 1.1% to $32.83 on Monday, while copper rose 1.2% to $4.7955.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 falling 1.30%, China's Shanghai Composite gaining 0.45% and India's BSE Sensex gaining 1.09%.

Economics

No major economic data is scheduled for release today.

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